Self-employed Mortgage
Overcome mortgage obstacles with specialized mortgage advice for independent contractors.
There are ways to get money fast
Simple processes in Everyday life
How Mortgages Work for Different Types of Self Employment
Sole Traders
A sole trader is a self-employed individual who operates their business as the sole owner and is personally responsible for its liabilities.
Partnerships
A self-employed partnership is a business structure where two or more individuals come together to operate a business.
Limited Company Directors
LTD company directors are individuals appointed to manage a company while enjoying limited liability protection for their personal assets.
Construction Industry Scheme
Under the CIS self-employment, individuals working as subcontractors in construction are subject to specific tax regulations & deductions.
Sole Trader Mortgages
Getting a mortgage as a lone proprietor might be challenging since many of them have trouble applying with the wrong lenders or with how their applications are presented. It’s crucial to remember that the market provides specialized lenders for different kinds of mortgages, including mortgages for independent contractors. Selecting the appropriate lender is essential to the success of your mortgage application.
How will lenders evaluate my earnings?
Your net profit—income before taxes but after expenses—will be used by lenders.
What income thresholds are applied while determining my loan amount?
If your net profit is growing, most lenders will utilize the average of the previous two years’ net profit.
If your net profit is decreasing, most lenders will take the most recent year.
Mortgage Advice for Self Employed
Advice on Mortgages for Independent Contractors Work for yourself? Not a single issue! We specialize in helping self-employed people obtain mortgages, and we can customize our services to suit your particular requirements.
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Faq Questions
Have any questions And answers
Is it hard to get a mortgage when you’re self-employed?
Not necessarily, but be prepared for a bit more paperwork and the need to provide additional evidence of your income. While the process involves extra steps, it’s entirely feasible with the right preparation and support.
How long do you need to be self-employed to get a mortgage?
Generally, lenders look for at least 2 years of self-employment history. However, it is possible to secure a mortgage with only 1 year of self-employment, depending on the lender and your financial situation.
My income circumstances are unusual can you help?
Absolutely! Even if your income situation feels uncommon, chances are we’ve helped someone in a similar position. We understand that income can vary greatly from person to person, and we’re here to navigate through any complexities with you. If you’re concerned about how your unique income circumstances might affect your mortgage options, don’t hesitate to get in touch.
